Tyler Technologies TYL recently announced that it has successfully provided its Eagle Recorder solution to California’s Ventura County Clerk-Recorder office. This move has helped the Clerk-Recorder’s office and county residents in simplifying land and vital records management.
Tyler’s Eagle Recorder is a record management software that easily manages recording and filing of a jurisdiction’s land records, transfer documents, trust deeds, mortgages, Uniform Commercial Code records, and tax liens. This solution will aid the Clerk-Recorder’s office in increasing efficiency, improving communication with its constituency, and complying with regulations.
The solution will reduce manual work and keystrokes for the Ventura County and concurrently replace its outdated technology. It will utilize data analytics and up-to-date information to make informed decisions. The county will now be able to easily index documents such as birth, death, and marriage certificates, notary bonds, and passport applications. Also, it will be able to record and file documents with flexible field names and quickly find required information with Tyler’s advanced search options.
With Tyler’s Eagle Self-Service portal, the Ventura County’s (which has a population of nearly 860,000) residents will be able to search and access public records both online and offline at a kiosk in the clerk’s office. This will not only improve transparency among the county’s residents but also save Clerk-Recorder office staffs’ time to process record requests and reduce queue lines at the office.
Of late, Tyler has been benefiting from the public sector’s ongoing transition from on-premise and outdated systems to scalable cloud-based systems. It has been consistently advancing its core software applications and expanding complementary product and service portfolios to cater to the changing needs of customers while keeping pace with technological advancements.
Tyler Technologies, Inc. Price and Consensus
Tyler Technologies, Inc. price-consensus-chart | Tyler Technologies, Inc. Quote
Recently, in November, it signed a contract to provide a comprehensive suite of public safety solutions, including New World Enterprise CAD and Socrata data and insights, to Illinois’ Lake County 911 Consolidation Consortium. Earlier in the same month, it collaborated with Choctaw Nation of Oklahoma to create a sophisticated new court system for the tribal government.
During third-quarter 2021, the company added 114 new subscription-based arrangements and converted 46 existing on-premises clients, accounting for approximately $56 million in total contract value.
Tyler has been pursuing strategic takeovers to broaden its product and service offerings, enter new markets related to local governments, attract clients, and expand geographically. Investments and acquisitions are helping it stay ahead of the curve, and capitalize on new and exciting prospects.
In the third quarter, the company gained primarily from the post-acquisition contributions of NIC. Its non-GAAP revenues grew 61.1% year over year to $460.6 million. It recently completed the acquisitions of VendEngine, a fintech company, and Arx, a cloud-based software service provider.
Zacks Rank & Other Stocks to Consider
Tyler currently carries a Zacks Rank #2 (Buy). Some other top-ranked stocks in the broader technology sector are Advanced Micro Devices AMD, Qualcomm QCOM and CDW Corporation CDW, each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Advanced Micro Devices’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 14%. Shares of AMD have rallied 58.5% in the YTD period.
The consensus mark for Qualcomm’s first-quarter fiscal 2022 earnings has been raised to $3.01 per share from $3 in the past 30 days. For fiscal 2022, earnings estimates have been revised upward by 1.5% to $10.49 per share in the past 30 days.
Qualcomm’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 11.2%. Shares of QCOM have gained 20.6% YTD.
CDW’s consensus estimate for fourth-quarter fiscal 2021 earnings has been raised to $1.87 per share from $1.83 in the past 60 days. For fiscal 2021, earnings estimates have moved north by 0.1% to $7.81 per share over the past 30 days.
CDW’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 12.2%. Shares of CDW have appreciated 50.4% YTD.
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